Former bank rep accused of swiping customer funds banned from industry
Another bank rep has gotten the boot from FINRA.
Chaz Thomas Partosan, a former rep registered with J.P. Morgan Securities in New Rochelle, New York, was barred from the industry on Wednesday for allegedly stealing $1,002 from bank customers by illicitly using their debit cards, according to a FINRA disciplinary filing.
Partosan made seven unauthorized ATM withdrawals and used the funds to pay personal expenses, FINRA charged. He also allegedly made one unauthorized purchase with the debit cards.
FINRA claimed Partosan obtained the debit cards while performing his duties as a bank employee.
Partosan could not be reached for comment. In his settlement with FINRA, Partosan neither admitted nor denied the charges but consented to an entry of the regulator's findings.
The broker was terminated after a series of unauthorized transactions involving the accounts of customers of both BBVA and its affiliate bank, FINRA claimed.February 15
The regulator rebuked the broker for excessive trading that generated more than $666,000 in commissions and fees and resulted in $397,000 in losses.February 13
Partosan worked for both J.P. Morgan Securities and J.P. Morgan Chase Bank from January 2016 to June 2016, according to BrokerCheck records. He also worked briefly for retail and institutional broker-dealer Aegis Capital after leaving J.P. Morgan.
Michael Fusco, a spokesman for Chase Wealth Management, declined to comment on the matter.
Partosan is the second bank rep barred this year. David Jeremy Welty, a former Wells Fargo registered rep, was expelled last week for allegedly stealing $8,700 from an account he opened at Wells Fargo for a memorial fund.